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Global Precision Medicine Software Market Share is Likely to Grow at A CAGR Value of Around 10.50% by 2028

02-Aug-2022 | Facts and Factors

According to Facts and Factors, the Global Precision Medicine Software market size was worth USD 14,194.50 million in 2021 and is estimated to grow to USD 25,840.07 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.50% over the forecast period. The study examines the market drivers, challenges, and restraints for precision medicine in Europe and how they will affect demand over the forecasted period. The paper also looks into the new potential in the European market for precision medicine.

Precision medicine is a medical model that advocates for healthcare personalization through medicines, medical judgments, goods, and practices that are tailored to the specific patient's healthcare needs. The precision medicine model uses diagnostic testing to select the most appropriate or effective medical treatment depending on the patient's genetic makeup or structure and cellular analysis. Analytics, molecular diagnostics, and imaging methods are tools utilized in precision medicine.

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Browse the full “ Precision Medicine Software Market By Delivery Mode (On-premise, Web & Cloud-based), By Application (Oncology, Pharmacogenomics, and other applications), By End User (Healthcare Providers, Research & Government Institutes, and Pharmaceutical & Biotechnology Companies), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/precision-medicine-software-market

The use of precision pharmaceuticals in the European continent is likely to improve patient outcomes. It is made up of investors prepared to cover the cost of the drugs and medical institutions eager to develop genetic testing and analytics tools. In addition, European drug research centres focus on developing novel, individualized forms of treatment, while companion diagnostics companies focus on effectively obtaining data. Genetic analytics also assist in evaluating the results of patient clinical data.

Segmental Overview

The distribution method, application, and end-user are the three sectors that make up the Global Precision Medicine Software market. The industry is divided into three categories based on distribution methods: on-premise, web, and cloud. Pharmacogenomics and other applications make up the majority of the precision medicine market in Europe. Healthcare providers, government research agencies, and pharmaceutical and biotechnology firms make up the market's end users.

Regional Overview

The use of precision pharmaceuticals in the European continent is likely to improve patient outcomes. It is made up of investors prepared to cover the cost of the drugs and medical institutions eager to develop genetic testing and analytics tools. In addition, European drug research centers are focussing on developing novel, individualized forms of treatment, while companion diagnostics companies are focusing on effectively obtaining data. Genetic analytics also assist in evaluating the results of patient clinical data.

Furthermore, via the efficient provision of patient care services, Europe has significantly influenced the change in the healthcare sector. It appears that over the predicted period, the prevalence of cancer in Europe will increase demand for the product. However, throughout the years 2019 to 2025, the market's growth may be hampered by the precision medications' high beginning costs. However, the development of new methods for producing precision medicine will open up fresh growth prospects for the European market, negating the adverse effects of the obstacles to market expansion over the projection period. The U.K. currently holds the greatest market share out of all the other countries. The size of research facilities and laboratories is having a favorable effect on the market's growth rate. Leveraging the market's growth pace in this nation is also increasing the expertise of professionals in genomic analysis.

Report Scope

Report Attribute

Details

Market Size in 2021

USD 14,194.50 Million

Projected Market Size in 2028

USD 25,840.07 Million

CAGR Growth Rate

10.50% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Syapse Inc. (U.S.), Fabric Genomics Inc. (U.S.), GenomOncology LLC (U.S.), SOPHiA GENETICS SA (Switzerland), Human Longevity Inc. (U.S.), Sunquest Information Systems Inc. (U.S.), LifeOmic Health, LLC (U.S.), Translational Software Inc. (U.S.), N-of-One (U.S.), PhenoTips (Canada), PierianDx (U.S.), Foundation Medicine Inc. (U.S.), 2bPrecise (U.S.), and Others

Key Segment

By Delivery Mode, Application, End User, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

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Competitive Landscape

The report contains qualitative and quantitative research on the global precision medicine software market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.

Key players functioning in the Global Precision Medicine Software market include Syapse, Inc. (U.S.), Fabric Genomics, Inc. (U.S.), GenomOncology LLC (U.S.), SOPHiA GENETICS SA (Switzerland), Human Longevity, Inc. (U.S.), Sunquest Information Systems Inc. (U.S.), LifeOmic Health, LLC (U.S.), Translational Software Inc. (U.S.), N-of-One (U.S.), PhenoTips (Canada), PierianDx (U.S.), Foundation Medicine, Inc. (U.S.), and 2bPrecise (U.S.).

Recent developments:

  • The Personalized Lifestyle Medicine Center (PLMC), a patient clinic and clinical research facility, was opened by Metagenics, Inc. in Gig Harbor, Washington, in January 2019. The Center will experiment with precision lifestyle medicine, tailoring its treatment plans to each patient specifically.
  • New vitamin supplements for targeted health are unveiled by Vitamin Packs, Inc. PERSONA nutrition in March 2019. The most recent supplements include new vegan softgels, a programme created especially for bariatric patients, and a combo product to let subscribers take fewer pills each day.
  • Invitrocue and ASTAR's Genome Institute of Singapore announced in July 2017 the opening of a cooperative laboratory to build tumour models to aid clinicians' decision-making and enable the use of individualized medicines that will assist patients to manage their illnesses and extend survival.

The Global Dental Periodontics market is segmented as follows:

By Delivery Mode

  • On-premise
  • Web & Cloud-based

By Application

  • Oncology
  • Pharmacogenomics
  • Other Applications

By End User

  • Healthcare Providers
  • Research & Government Institutes
  • Pharmaceutical & Biotechnology Companies

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

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